Mortgage Rate Jig
If you have been a regular subscriber of this blog, you know a common topic over the past two years has been mortgage rates.
Perhaps you have wondered about my continued dialog on "buy now as interest rates are bound to go up"
Frankly, it what common sense dictated. Though the Fed, by definition, was buying down interest rates through all the QE money flowing into bonds, everyone knew that was ending in October and that the economy has continued to improve, albeit a bit unsteady at times and not be broadly felt among all sectors(especiallya a 18.5 million were reported today as still unemployed!).
Yet, normally the expectation and then end of a major incentive would alone change the trajectory of the factor being impacted. Thus, add the improving economy pressure on credit and the normal inflows to stocks from bonds, one would expect interest rates to climb at least modestly.
But, again in Jim Belote's Weekly Mortgage Update, we see that rates have remained steady and are at one of the lowest points in history. Go Figure!!!
Read and comment!!!